ECBK vs SPY: Correlation
Measured on weekly returns over the past three years, ECB Bancorp, Inc. (ECBK) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of 0.28, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECBK and SPY?
Across a 3-year window, the weekly returns of ECBK and SPY correlate at 0.28, weak. Recent behaviour matches the longer record: 0.27 over 1 year against 0.28 over 3. Stretching to 5 years gives 0.22, with an annualized covariance of 93.3 %².
Among the 11 assets we track against ECBK, SPY sits near the bottom by co-movement, at rank #7. Neither side won the trailing year by much: +20.9% against +20.6%. Note the risk asymmetry: ECBK runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ECBK vs SPY: side by side
| ECBK (ECB Bancorp, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +20.9% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 23.4% | 14.5% |
| Beta vs S&P 500 | 0.45 | 1.00 |
| Max drawdown (3Y) | -19.7% | -18.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | 14.8 | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | ECBK | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | -21.7% | +26.2% |
| 2024 | +18.2% | +24.9% |
| 2025 | +17.2% | +17.7% |
| 2026 | +19.2% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECBK and SPY good diversifiers for each other?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ECBK and SPY?
Using weekly returns as of 2026-08-27: 0.28 over 3 years, with 0.27 over the last year and 0.22 over 5 years.
Is SPY a good diversifier for ECBK?
A fair diversifier. At 0.28, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ECBK correlations · SPY correlations
